DEN Networks Limited (IN:DEN)
:DEN
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DEN Networks Limited
(DEN)
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Rating:62Neutral
Price Target:
₹31.00
▼(-3.00% Downside)
Action:ReiteratedDate:04/21/26
The score is held back primarily by weakening financial trajectory—persistent revenue contraction and a significant 2026 cash flow/FCF decline—despite a very conservative balance sheet. Technicals show improving short-term momentum but a still-weak longer-term trend, while the low P/E provides valuation support.
Positive Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility to absorb revenue volatility, fund targeted capex or broadband rollouts, and avoid distress financing. Over 2–6 months this supports stability in operations, counterparty confidence, and optionality for strategic investments or partnerships.
Negative Factors
Multi-year revenue decline
Sustained revenue contraction erodes scale advantages, weakens bargaining leverage with broadcasters and operators, and raises the bar to maintain fixed-cost coverage. Over 2–6 months this trend constrains reinvestment capacity and makes margin preservation and growth initiatives harder to execute.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility to absorb revenue volatility, fund targeted capex or broadband rollouts, and avoid distress financing. Over 2–6 months this supports stability in operations, counterparty confidence, and optionality for strategic investments or partnerships.
Read all positive factors
DEN Networks Limited (DEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.24B
Dividend YieldN/A
Average Volume (3M)23.20K
Price to Earnings (P/E)7.7
Beta (1Y)1.49
Revenue Growth-3.10%
EPS Growth1893.99%
CountryIN
Employees612
SectorServices
Sector StrengthN/A
IndustryEntertainment
Share Statistics
EPS (TTM)81.00
Shares Outstanding477,223,850
10 Day Avg. Volume33,704
30 Day Avg. Volume23,203
Financial Highlights & Ratios
PEG Ratio-0.42
Price to Book (P/B)0.31
Price to Sales (P/S)1.22
P/FCF Ratio-62.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
DEN Networks Limited Business Overview & Revenue Model
Company Description
DEN Networks Limited engages in the distribution and promotion of television channels through digital cable distribution network in India. It operates through Cable and Broadband segments. The company also offers cable TV, over-the-top entertainme...
How the Company Makes Money
DEN generates revenue mainly from (1) subscription fees for distributing TV services to end consumers, typically collected through local cable operators and/or directly where applicable, and (2) carriage and placement fees charged to television br...
DEN Networks Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
88
Very Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.91B | 9.74B | 10.05B | 10.81B | 11.04B | 11.83B |
| Gross Profit | 3.87B | 3.53B | 4.21B | 4.74B | 4.91B | 5.56B |
| EBITDA | 2.21B | 3.01B | 3.56B | 3.62B | 2.64B | 3.24B |
| Net Income | 1.92B | 1.66B | 2.00B | 2.15B | 2.43B | 1.76B |
Balance Sheet | ||||||
| Total Assets | 43.01B | 42.83B | 41.42B | 39.27B | 37.59B | 35.09B |
| Cash, Cash Equivalents and Short-Term Investments | 32.54B | 33.78B | 31.98B | 29.31B | 25.15B | 24.84B |
| Total Debt | 215.42M | 200.38M | 229.83M | 255.11M | 275.97M | 0.00 |
| Total Liabilities | 5.52B | 4.57B | 4.83B | 4.63B | 5.03B | 4.96B |
| Stockholders Equity | 37.09B | 37.85B | 36.20B | 34.20B | 32.07B | 29.53B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -188.49M | -231.37M | 883.17M | 399.93M | 258.53M |
| Operating Cash Flow | 0.00 | 221.93M | 183.00M | 1.42B | 1.39B | 1.29B |
| Investing Cash Flow | 0.00 | -163.39M | -217.79M | -1.25B | -542.63M | -2.58B |
| Financing Cash Flow | 0.00 | -16.24M | -71.55M | -65.93M | -1.15B | 959.00M |
DEN Networks Limited Technical Analysis
Positive
31.96
Price Trends
27.40
Positive
29.08
Positive
32.41
Negative
Market Momentum
0.50
Negative
65.29
Neutral
84.84
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DEN, the sentiment is Positive. The current price of 31.96 is above the 20-day moving average (MA) of 26.37, above the 50-day MA of 27.40, and below the 200-day MA of 32.41, indicating a neutral trend. The MACD of 0.50 indicates Negative momentum. The RSI at 65.29 is Neutral, neither overbought nor oversold. The STOCH value of 84.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:DEN.
DEN Networks Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹13.24B | 7.67 | ― | ― | -3.10% | 1893.99% | |
58 Neutral | ₹19.56B | 19.28 | ― | ― | 5.39% | -11.80% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
52 Neutral | ₹7.52B | 40.04 | ― | 2.00% | 6.96% | -67.21% | |
46 Neutral | ₹7.09B | -0.66 | ― | ― | -22.55% | 56.36% | |
44 Neutral | ₹427.31M | -0.25 | ― | ― | -6.77% | -48.21% |
* Services Sector Average
IN:DEN
DEN Networks Limited
27.76
-5.10
-15.52%
IN:DISHTV
Dish TV India Limited
3.85
-1.20
-23.76%
IN:GTPL
GTPL Hathway Ltd
66.85
-37.69
-36.05%
IN:HATHWAY
Hathway Cable & Datacom Ltd.
11.05
-2.96
-21.13%
IN:ORTEL
Ortel Communications Limited
1.75
-0.03
-1.69%
IN:SITINET
Siti Networks Limited
0.49
-0.08
-14.04%
DEN Networks Limited Corporate Events
DEN Networks Clears FY26 Audited Results With Clean Audit Opinion
Apr 14, 2026
DEN Networks Limited announced that its Board of Directors has approved the audited standalone and consolidated financial statements for the quarter and full financial year ended March 31, 2026, as recommended by the Audit Committee. The results, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.